Company Profile
Yamana Gold Inc. is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and by targeting other gold consolidation opportunities with a primary focus in the Americas.
Yamana has six core producing mines, Chapada, Jacobina and Fazenda Brasileiro located in Brazil, El Penon and Minera Florida in Chile, and Gualcamayo located in Argentina. In addition, the Company has seven development stage projects, C1 Santa Luz, Mercedes, the tailings reprocessing project at Minera Florida, Ernesto/Pau-a-Pique, QDD Lower West, Pilar and Caiamar, as well as a robust exploration portfolio.
2009 Highlights
- Continued significant growth in production, revenue, adjusted earnings and cash flow
- Maintained industry low cash costs at $170 per GEO
- Improved quality of asset portfolio with sale of high cost non-core assets
- Remained focused on creating predictability and reliability in our operations
- Concluded the year with a robust balance sheet with $170 million in cash with $600 million in total cash and undrawn credit
- Declared commercial production at Gualcamayo
- Made construction decisions on four development stage projects, C1 Santa Luz, Mercedes, Ernesto/Pau-a-Pique and Minera Florida tailings
- Completed four mine expansions at Chapada, El Penon, Jacobina and Minera Florida
- Discovered new areas of mineralization at Chapada, Gualcamayo, Jacobina and Fazenda Brasileiro, as well as two new vein deposits at Minera Florida and a new high grade vein system at El Penon.